Asia Markets Slide Amid Higher Interest Rate Fears

Asian markets fell across the board on Monday as investors grew concerned about the potential for higher interest rates in the US.

The news came after a speech by Fed Chairman Kevin Warsh, who reinforced expectations that the Federal Reserve will raise interest rates to combat inflation.

Oil prices surged 3% following a US strike on Iranian rocket launchers, but the gains were largely offset by concerns about higher borrowing costs in the US.

The Nikkei 225 index in Tokyo lost 0.4%, while the Kospi in South Korea declined 0.5%. The Shanghai Composite index, however, gained 0.4%.